Issue link: https://te.mouser.com/i/1501303
APPLIANCES / TREND PAPER Smart Homes A Look into Today's Trends and Opportunities 2 In an era of smart technology, there really is no place like home. Today's consumer has come to expect both convenience and cost-savings from the ongoing advancements in new technologies that are reshaping the way people live, work, and operate. Fueled by the expanding capabilities afforded by the Internet of Things (IoT), nowhere is this more evident than in the growing emergence of smart homes. Powered by computing devices and information technology, smart homes allow for multiple appliances and devices to be automatically and remotely controlled using a mobile or other networked device. With connectivity no longer a stand-alone trend but rather the future of innovation, smart homes are growing in prominence as they answer consumer demands for residential ease, entertainment, and enhanced comfort, all while delivering a variety of solutions in a sustainable way. TE Connectivity (TE), a world leader in connectivity and sensor technology, has a dedicated focus on the smart home market. We are sharing our insights to help manufacturers capitalize on this opportunity and the various applications that are making smart homes a reality. Designers and engineers need to be aware of the myriad of market factors and consumer trends that are driving growth, as well as the design and technology issues that will impact product development and market adoption. A Growing Global Market Over the last few years, the global smart home market has dramatically expanded with the availability of a wide range of high technology products for connected homes. In 2021, the global smart home market was sized at $62.7 billion, however, by 2030, it is projected to significantly grow and reach $537 billion. 1 This growth trajectory is being powered by a confluence of factors and trends. Let's take a closer look.